Toyota reports 2% y-o-y growth in November sales

Toyota Kirloskar Motor (TKM) on Monday said it has sold 8,508 units in November in the domestic market, a growth of 2.4 per cent compared with 8,312 units in the corresponding month last year.

In terms of festival season demand and sales, TKM has fared well registering a 10-13 per cent increase in customer orders and 12 per cent increase in retail sales (sales from dealer to customer) compared to the festival period in 2019, it said.

However, owing to the “illegal” strike called by the members of TKM union, TKM was forced to declare a lockout at the factory which has impacted its production and wholesale numbers (sales from TKM to dealer).

But the company was able to fulfill the market demand with the stock available, both at the factory as well as at the dealer’s end, it said.

“The company has been witnessing a gradual yet steady recovery owing to factors such as pent-up and festival season demand as well as consolidation of the market at the lower end due to increasing preference for personal mobility amongst customers,” Naveen Soni, Senior Vice-President, Sales and Service, TKM, said.